Listed Russian property developer AFI Development announced on Monday that its Mall of Russia retail centre in Moscow will open in the first week of December. The company said it expects approximately 70-75% of the development’s gross lettable area to be leased by the time of the opening.
Listed Russian property developer AFI Development announced on Monday that its Mall of Russia retail centre in Moscow will open in the first week of December. The company said it expects approximately 70-75% of the development’s gross lettable area to be leased by the time of the opening.
With a total area of 179,930 m2, a shopping gallery of 305 stores, a cinema with 1,154 seats, and a supermarket of 2,400 m2, the Mall of Russia is one of Europe’s largest retail developments in recent years. Confirmed tenants include major international retailers, such as Marks & Spencer, Gap, H&M, Zara, Next, Bodyshop, as well as X5, Russia’s largest retail company. The Mall is expected to generate significant rental income for the company.
AFI board chairman Lev Leviev commented: 'We are delighted to announce the opening of the Mall of Russia in December this year, which represents a key landmark for the Group. This is a high profile and unique retail centre in Moscow which illustrates the company's development and leasing expertise. We believe that the prestigious tenants and opening for the holiday season will ensure its success.'